Property group says profit fell from 拢25.8m to 拢18.1m, but it remains confident for the long term

Property group Terrace Hill has announced a fall in pre-tax profit from 拢25.8m to 拢18.1m in the year to 31 October 2007.

Turnover fell from 拢80.5m to 拢70m over the same period.

It said it remains confident for the long-term despite market challenges and warned of a modest slowdown in occupier demand with some further weakening in investment yields since the year-end even as it reported a fall in full year pre-tax profit.

Its commercial development programme has a projected end value of 拢1.3bn.

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